Lok Sabha Clears Bill To Permit Netting of Qualified Financial Contracts [Read Bill]

The Lok Sabha on Sunday passed the Bilateral Netting of Qualified Financial Contracts Bill, 2020, with an aim to ensure financial stability and promote competitiveness in Indian financial markets. The Bill provides a legal framework to enable two counterparties in a bilateral financial contract to offset claims against each other to determine a single net payment obligation due from...